Volatility And Growth In Latin America PDF Download
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Author | : Rishi Goyal |
Publisher | : International Monetary Fund |
Total Pages | : 54 |
Release | : 2006-12-01 |
Genre | : Business & Economics |
ISBN | : 1451865473 |
Download Volatility and Growth in Latin America Book in PDF, ePub and Kindle
This paper compares the pattern of macroeconomic volatility in 17 Latin American countries during episodes of high and low growth since 1970, examining in particular the role of policy volatility. Macroeconomic outcomes are distinguished from macroeconomic policies, structural reforms and reversals, shocks, and institutional constraints. Based on previous work, a composite measure of structural reforms is constructed for the 1970-2004 period. We find that outcomes and policies are more volatile in low growth episodes, while shocks (except U.S. interest rates) are similar across episodes. Fiscal policy volatility is associated with lower growth, but fiscal policy procyclicality is not. Low levels of market-oriented reforms and structural reform reversals are also associated with lower growth.
Author | : Pablo Mejía Reyes |
Publisher | : |
Total Pages | : 90 |
Release | : 2001 |
Genre | : Latin America |
ISBN | : |
Download Volatility and Economic Growth in Latin America Book in PDF, ePub and Kindle
Author | : Ramón Pineda Salazar |
Publisher | : |
Total Pages | : 35 |
Release | : 2014 |
Genre | : |
ISBN | : |
Download Economic Growth and Real Volatility Book in PDF, ePub and Kindle
Author | : Mr.R. Gelos |
Publisher | : International Monetary Fund |
Total Pages | : 202 |
Release | : 2014-03-27 |
Genre | : Business & Economics |
ISBN | : 1484377133 |
Download Managing Economic Volatility in Latin America Book in PDF, ePub and Kindle
How has Latin America coped with external shocks and economic vulnerabilities in the aftermath of the global financial crisis? Managing Economic Volatility in Latin America looks at how the region has fared in recent years in an environment of uncertainty. It presents a collection of novel contributions on capital flows, terms of trade, and macroeconomic policy in Latin America. The rigorous expert analysis offers an up-to-date guide to many of the key economic policy questions in the region. Chapters focus on important analytical issues, including assessing reserves adequacy and current account levels. The roles of macroeconomic policies and exchange rates regimes in coping with large capital inflows are examined, as well as the effectiveness of both monetary policy and fiscal policy in dealing with economic challenges in the region.
Author | : Ricardo J. Caballero |
Publisher | : IDB |
Total Pages | : 186 |
Release | : 2001 |
Genre | : Business & Economics |
ISBN | : 9781931003070 |
Download Macroeconomic Volatility in Reformed Latin America Book in PDF, ePub and Kindle
Author | : Anoop Singh |
Publisher | : International Monetary Fund |
Total Pages | : 36 |
Release | : 2006-07 |
Genre | : Business & Economics |
ISBN | : |
Download Macroeconomic Volatility Book in PDF, ePub and Kindle
The recent recovery in Latin America has been impressive but also raises the question whether this represents a fundamental break with the region's history of boom-bust cycles. The paper traces how this history of macroeconomic volatility and financial crisis over the past century has adversely impacted on growth and other development indicators, and the role played by policy instability. The paper then concludes that recent policies in the region offer encouragement that these vulnerabilities are being addressed, but notes that an important agenda still remains to be addressed.
Author | : Norman Loayza |
Publisher | : World Bank Publications |
Total Pages | : 169 |
Release | : 2005-01-01 |
Genre | : Business & Economics |
ISBN | : 0821360914 |
Download Economic Growth in Latin America and the Caribbean Book in PDF, ePub and Kindle
Several countries in Latin America and the Caribbean are suffering severe economic downturns and the success of market-oriented reforms is being called into question. This report seeks to contribute to the debate by examining the nature of economic growth in the region. The aim is threefold: to describe the basic characteristics of growth; explain differences across countries and to forecast changes over the next decade.
Author | : Hans Fricke |
Publisher | : |
Total Pages | : 30 |
Release | : 2011 |
Genre | : |
ISBN | : |
Download Growth and Volatility of Tax Revenues in Latin America Book in PDF, ePub and Kindle
Against the background of a notoriously high macroeconomic instability and the need to raise tax revenues to meet the demands of public spending, this paper analyzes the tradeoff between growth and volatility of tax revenues in Latin America. We use a two-step Engle-Granger-type model to estimate short-run and long-run elasticities, accounting for state-dependent asymmetric reactions of short-run elasticities over the business cycle. Due to its dependence on commodities exploitation Latin America is in general susceptible to the boom-bust cycles of its natural riches. Controlling for the composition of revenue sources and other idiosyncrasies of Latin American economies, we find revenues above (below) its long-run equilibrium to react stronger (weaker) to business cycle dynamics. This 'tax revenue channel' represents an indirect argument for counter-cyclical discretionary fiscal policy in the region. Our detailed elasticity estimates can give some orientation on how to reach necessary higher tax levels without creating disincentives and inequities through business cycle instabilities on the way to develop an adequate internal tax system.
Author | : José Luis Machinea |
Publisher | : Springer |
Total Pages | : 262 |
Release | : 2006-11-28 |
Genre | : Business & Economics |
ISBN | : 0230800912 |
Download Economic Growth with Equity Book in PDF, ePub and Kindle
This book analyses the development challenge faced by Latin America at a time at which the concerns for the large inequality in the region are at a peak. This volume focuses on growth-with-equity, and is written by an outstanding group of Latin American and international researchers and policy-makers.
Author | : Ricardo J. Caballero |
Publisher | : |
Total Pages | : 62 |
Release | : 2000 |
Genre | : Argentina |
ISBN | : |
Download Macroeconomic Volatility in Latin America Book in PDF, ePub and Kindle
After decades of trial, error, and occasional regress the pieces of a successful Latin American economic model can be seen scattered among the leading economies of the region. The most traditional macroeconomic maladies of the emerging world - such as chronic fiscal imbalances and monetary gimmicks are gradually being left behind. Many of these economies have made significant progress in their regulatory and supervisory frameworks and, at times, have been leaders beyond Latin American boundaries in allowing private sector co-participation in a wide array of ex-public sector activities. Despite these significant efforts, several structural sources of volatility remain, and new ones have emerged as a result of the new and otherwise better economic environment. In this paper I review these sources through the recent experiences of Argentina, Chile and Mexico.